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|  Understanding Agency, Introduction Component 1: Facilitator Talking Points Component 2: Agenda Component 3: Handout 1, How is an Agency Relationship Created? Component 4: Activity 1, Does This Make You an Agent Quiz Component 5: Activity 1, Answer Sheet for Agent Quiz Component 6: Handout 2, The Fiduciary Duties of an Agent Component 7: Handout 3, Types of Agency Brokerage Relationships with Consumers Component 8: Creating a Company Policy on Agency Component 9: Activity 2, What Sellers’ Subagents Can and Can't Do for Buyers Component 10: Activity 3, Scenarios for Recognizing Breaches in Fiduciary Duties Component 11: Activity 3a: Explanations of Scenarios on Fiduciary Duties Component 12: Other Resources | Understanding Agency Relationships Activity 1: Does This Make You An Agent? Read the following questions and circle "true" or "false." 1. You do not have a written contract with the principal. True False 2. A person can be an agent of a specific principal whether or not any compensation is involved. True False 3. Your cousin asks you to help him sell his house, and you agree to do him a favor. You tell him that you don’t have time to show the house, but you give him advice about what the house might sell for and help him write an ad for the house and put it in the Sunday classifieds. Because you didn’t take your cousin’s house as a listing, no agency relationship exists. True False 4. You are the agent of a prospective seller who discusses his property with you, even if you decide not to take the listing. True False Component 5: Quiz Answer Sheet This information provides general legal information and should not be relied upon as legal guidance. Before acting, both the relevant laws and legal counsel should be consulted. This information should not be construed as specific legal advice nor as an opinion on particular facts, cases, or situations. | |
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